In 2021, the Illinois Finance Authority was designated the State’s Climate Bank, which gives it authority to pursue federal resources to combat climate change through finance within an equitable framework that reflects the diversity of Illinois. As outlined in the 2021 Climate & Equitable Jobs Act (20 ILCS 3501/850-15), the purpose of the Illinois Climate Bank includes (1) the distribution of benefits of clean energy in an equitable manner, including by evaluating benefits to eligible communities and equity investments; (2) making clean energy accessible to all, especially eligible persons, through financing opportunities and grants for minority-owned businesses, as defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act, and for low-income communities, eligible communities, environmental justice communities, and the businesses that serve these communities; and (3) accelerating the investment of private capital into clean energy projects in a manner reflective of the geographic, racial, ethnic, gender, and income-level diversity of the State.

Learn more about the Illinois Climate Bank at https://illinoisclimatebank.com/

Illinois Finance Authority/Climate Bank

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